European Investment Bank to issue a 30-million-euro loan to Georgia

November 29, 2013, 1:05 UTC+3VILNIUSThe money will be used for the modernization of the Samtredia-Grigoleti (Western Georgia) section of the East-West high-speed automobile road

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VILNIUS, November 28, 22:44 /ITAR-TASS/. The European Investment Bank (EIB) will issue a long-term 30-million-euro credit to Georgia under an agreement signed by EIB Vice-President Wilhelm Molterer on Thursday.

Georgian Economics Minister Georgy Kvirikashvili who is staying in Vilnius told journalists that the loan had been granted for a period of 30 years with a 10-year grace period.

The money will be used for the modernization of the Samtredia-Grigoleti (Western Georgia) section of the East-West high-speed automobile road which has strategic importance for Georgia.